KRS 386A.8-030: Judicial dissolution.

(1) The appropriate court may dissolve a statutory trust in a proceeding by a beneficial

owner if it is established that:

(a) It is not reasonably practicable to carry on the business of the statutory trust in

conformity with the governing instrument; or

(b) The trust has been without a trustee for ninety (90) days and no successor

trustee has been appointed or designated in accordance with the governing

agreement.

(2) The clerk of the court shall deliver a certified copy of the decree of dissolution to

the Secretary of State, who shall file it. The dissolution shall be effective upon the

latter of the date specified by the court or the filing of the decree of dissolution by

the Secretary of State.

(3) After entering the decree of dissolution, the appropriate co urt shall direct the

winding up and liquidation of the business and affairs of the statutory trust in

accordance with KRS 386A.8-040 and 386A.8-050 and the notification of claimants

in accordance with KRS 386A.8-060 and 386A.8-070.